Saudi Arabia Veterinary Pharmaceuticals Market - Forecasts from 2024 to 2029

Saudi Arabia Veterinary Pharmaceuticals Market - Forecasts from 2024 to 2029

The Saudi Arabia veterinary pharmaceuticals market is projected to rise at a compound annual growth rate (CAGR) of 7.79% to reach a market valuation of US$47.670 million by 2029, from US$28.200 million in 2022.

The field of medical science that focuses on the diagnosis, treatment, prevention, and general healthcare of animals is known as veterinary medicine or just vet medicine. It includes a broad spectrum of medical procedures and offerings aimed at guaranteeing the health and welfare of animals, both tamed and wild. Veterinarians offer animals complete medical care, including vaccinations, surgeries, dental care, and specialized treatments in addition to routine checkups. Their objective is to preserve and enhance the well-being and standard of living of animals. An essential component of veterinary pharmaceuticals is preventive care. It comprises preventative measures to avoid illness and guarantee the long-term health of animals, such as vaccinations, parasite control, wellness examinations, and dietary advice. A range of diagnostic techniques, such as physical examinations, blood tests, imaging, and laboratory testing, are employed by veterinarians to detect and manage medical conditions in animals. Surgical procedures performed by veterinarians range from simple spaying and neutering to intricate operations to treat congenital conditions, remove tumors, and treat injuries. In veterinary medicine, surgical procedures are similar to those in human medicine.

Increasing demand for dairy and meat propels the market.

The need for animal production is also being fueled by Saudi Arabia's increasing demand for dairy and meat due to the country's increased need for protein and animal-based products. For instance, according to the Foreign Agricultural Service, Saudi Arabia produced 910,000 MT of chicken in 2021, up from 900,000 MT in 2020. The demand for veterinary vaccines to maintain good veterinary health in Saudi Arabia is being further driven by the trend toward increased animal production indicators and an overall increase in the demand for agricultural livestock.

Further, pets are becoming more and more important in Saudi Arabian households, which has increased demand for veterinary care and pet supplies like food, medicine, and vaccinations. Animal health, including vaccinations and disease control strategies, is receiving more attention as a result of worries about zoonotic diseases, or illnesses that can spread from animals to people. Improvements in veterinary medicine, including better medications, diagnostic equipment, and therapeutic techniques, have broadened the selection of goods and services available, propelling market expansion. The market has grown as a result of growing awareness among veterinarians, livestock farmers, and pet owners of the value of preventive care and veterinary care.

Further, the market is also anticipated to be driven during the forecast period by an increase in the number of veterinary hospitals and clinics in Saudi Arabia. The market for veterinary care has been significantly impacted by the rise in pet ownership in Saudi Arabia. As a result, the need for veterinary clinics in the area has increased. It is also expected that the market will expand due to the rise in veterinary pharmacies. Furthermore, it is anticipated that rising sales of over-the-counter medications and other goods will offer lucrative opportunities for industry players. For instance, Saudi Arabia's Qassim Gov. Prince Faisal bin Mishaal opened the largest camel hospital in the world in July 2022. Saudi Arabia's veterinary hospitals strive to treat animals as best they can by utilizing a variety of techniques and technological advancements. The market is anticipated to grow as a result of ongoing improvements to the services and facilities offered, such as central laboratories equipped with contemporary equipment.

Moreover, the nation's increasing meat consumption has an impact on consumers' knowledge of livestock health, which is driving Saudi Arabia's veterinary pharmaceutical market. For example, meat production reached 2,015 tonnes in 2021 and 2,027 tonnes in 2022, according to Fao.org.

Key Market Developments:

April 2022, ADQ and E20 Investment Ltd. collaborated to launch a novel animal health platform in Abu Dhabi, signifying a noteworthy achievement for the country's animal healthcare industry. The medical platform is built around two state-of-the-art veterinary clinics and a state-of-the-art vaccine production facility. The facilities offer the most cutting-edge technological animal vaccinations for the Middle East and Africa (MEA) region, further solidifying Abu Dhabi's position as a regional superpower in the field of upscale veterinary care for horses and camels.

Key Players:

Alemar International (Arasco) is a leading distributor of agricultural and veterinary products in Saudi Arabia. The company is committed to providing specialized agricultural and veterinary products in key sectors of animal health and public health.
Vetoquinol offers wide innovative pet products, among others. The company deals in animal therapy areas and products, including Dermatology, hygiene and care, Antibiotics, and internal medicine products.
Saudi Pharmaceutical Industries (SPI) manufactures and supplies high-quality veterinary products, and its eminence is compared with European standards. The company follows a diversified healthcare business model in the fields of human health, animal health & infection control.

Segmentation:

By Type:

Injectable
Oral
Topical
Auricular, Ophthalmic, and Nasal
By Animal Type:

Companion Animal
Production Animal
By End-user:

Vet Hospitals and Clinics
Animal Farms
Others